Rule: Exit On Consecutive Losing Bars [Rule_ExitOnConsecLoss]

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The Rule: Exit On Consecutive Losing Bars function determines if an entry/exit system has resulted in losses over a given number of consecutive bars in the current trade. Parameters ------------------ Close                                       The closing price of the security for each given day. Consecutive Losses For Exit   The number of consecutive losses which should cause an exit to occur. For Short Exit                           Set this parameter to 1 to test for short exit conditions. Otherwise leave at 0. Function Value ------------------------ This function returns 1 if an entry/exit system has resulted in losses over a given number of consecutive bars in the current trade, otherwise it returns 0. Losses are determined by checking the closing price. If the closing price decreases from the previous bar during a long trade (or increases during a short trade), it is considered a losing bar. The "For Short Exit" parameter indicates whether to test for long or short losses. If the parameter is non-zero, the function only returns 1 if the system is currently short. Otherwise, the function only returns 1 if the system is currently long. (This is in addition to the condition being tested.) The length and position of the current trade are based on the previous values generated by the entry/exit system this function is used in. Because of this, it can only be used from within an entry/exit system or from within a function which will be used in an entry/exit system.